Catalina Marketing Extends Bank Credit Facilities
November 25 2003 - 5:50PM
PR Newswire (US)
Catalina Marketing Extends Bank Credit Facilities ST. PETERSBURG,
Fla., Nov. 25 /PRNewswire-FirstCall/ -- Catalina Marketing
Corporation announced today that it reached agreement yesterday
with its bank group to extend the company's U.S. credit facility
through August 31, 2004. The credit facility had previously been
extended for 60 days, expiring on November 24, 2003. The credit
facility in the United States remains at $30 million and is now
secured by the assets of the company and certain of its domestic
subsidiaries. The company also extended its waiver on the $30.5
million of indebtedness related to its corporate headquarters, in
St. Petersburg, Florida, through August 31, 2004. Catalina
Marketing Japan K.K., the Japan coupon subsidiary of Catalina
Marketing Corporation, also extended its 3.5 billion yen Japan
credit facility. The Japan facility consists of a 1.5 billion yen
revolver that was extended through August 31, 2004, and a 2 billion
yen term loan with a maturity of March 31, 2005. The Japan facility
is guaranteed by, and secured by, the assets of Catalina Marketing
Corporation and certain of its domestic subsidiaries. Christopher
W. Wolf, executive vice president and chief financial officer,
stated, "We are pleased with the continued support of our bank
group during this period. The combination of our available credit,
cash balances and operating cash flow provide us with the necessary
liquidity to meet the needs of our business throughout the term of
the credit facility." Based in St. Petersburg, Fla., Catalina
Marketing Corporation (http://www.catalinamarketing.com/) was
founded 20 years ago based on the premise that targeting
communications based on actual purchase behavior would generate
more effective consumer response. Today, Catalina Marketing
combines unparalleled insight into consumer behavior with dynamic
consumer access. This combination of insight and access provides
marketers with the ability to execute behavior- based marketing
programs, ensuring that the right consumer receives the right
message at exactly the right time. Catalina Marketing offers an
array of behavior-based promotional messaging, loyalty programs and
direct to patient information. Personally identifiable data that
may be collected from the company's targeted marketing programs, as
well as its research programs, are never sold or given to any
outside party without the express permission of the consumer.
Certain statements in the preceding paragraphs are forward looking,
and actual results may differ materially. Statements not based on
historic facts involve risks and uncertainties, including, but not
limited to, the changing market for promotional activities,
especially as it relates to policies and programs of packaged goods
and pharmaceutical manufacturers for the issuance of certain
product coupons and other promotions, the effect of economic and
competitive conditions and seasonal variations, actual promotional
activities and programs with the company's customers, the pace of
installation of the company's store network, the policies and
programs of the company's retail partners, the success of new
services and businesses and the pace of their implementation, and
the company's ability to maintain favorable client relationships.
DATASOURCE: Catalina Marketing Corporation CONTACT: Investors,
Christopher W. Wolf, Chief Financial Officer, or Joanne Freiberger,
Vice President, Finance, both at +1-727-579-5116, or Media, Susan
Gear, Executive Director, Marketing, +1-727-579-5452, all of
Catalina Marketing Corporation Web site:
http://www.catalinamarketing.com/
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